NMFC shrinks portfolio 24%, repurchases $65.6M of stock, cuts Q2 dividend to $0.25

Filed August 3, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 4, 2025 · ~2 min read

Key Changes

• high

  Portfolio fair value fell from $3.0B to $2.3B (down $711M or 24%) and NAV declined from $1.3B to $1.0B (down $278M or 21%), driven by an Asset Sale of ~$468M at 94% of Dec 2025 fair value that generated a $77M realized loss.

  MD&A: Portfolio Size and Asset Sale verify on EDGAR →
• high

  Repurchased $65.6M of common stock (8.2M shares at $8.01 avg) in H1 2026 under expanded $150M program, leaving $79.5M remaining; prior-year repurchases were $9.6M (0.9M shares at $10.42).

  Controls: Repurchase Program verify on EDGAR →
• high

  Q2 2026 dividend cut to $0.25/share from $0.32 in Q2 2025 (total H1 2026 $0.57 vs. $0.64 prior year, down 10.9%), reflecting lower earnings post-Asset Sale.

  MD&A: Distributions verify on EDGAR →